BRICS Pay is set to be launched in 2025, and Russia may be the first country to use it. The system faces significant challenges, including

The BRICS group of emerging-market powers — the acronym stands for Brazil, Russia, India, China and South Africa — has gone from a slogan dreamed up at an investment bank two decades ago to a real-world club that controls a multilateral lender.

New member Indonesia should also not “surrender to arrogant expressions" made by countries outside BRICS, a Russian diplomat says.

MOSCOW, Jan 21 (Bernama-TASS) -- Russian President Vladimir Putin and his Chinese counterpart Xi Jinping reached an agreement during Tuesday’s talks to continue strengthening BRICS as an instrument of ensuring a multipolar world order, Russian News Agency (TASS) reported citing Presidential Aide Yury Ushakov.

A Russian diplomat said Monday that his country had engaged in talks to use local currencies for trade with BRICS newcomer Indonesia as Moscow remained an outcast from the international system for cross-border transactions.

Russia and Iran have joined forces to create an alternative to the SWIFT payment system that could power the BRICS alliance.

Despite the threat of a trade war with the U.S., economists and analysts tell CNBC that this will not stop BRICS from expanding.

President-elect Donald Trump has pledged a 100 percent tariff against BRICS nations if they continue to undermine the US dollar — but the threat won’t rein in the group’s expansion, analysts tell CNBC. Most recently, Brazil announced Indonesia’s admittance into the bloc as a member last Monday.

In an interview with Russian news agency Sputnik published on Wednesday, Iranian government spokesperson Fatemeh Mohajerani announced that Iran and Russia are set to sign a comprehensive cooperation agreement on January 17.

US President Trump has mistakenly identified EU country Spain as a member of the BRICS economic bloc that comprises developing nations Read Full Article at RTcom

The oil-rich kingdom is still assessing whether to join the bloc the economy minister has said Saudi Arabia is still evaluating potential